Pikun Srimahunt, first executive vice-president, said total new housing loans are estimated to expand by
Lenders extended new mortgages worth
New housing loans worth
SCB, the country's largest housing lender, is maintaining its target for mortgage growth at
The bank plans to keep its housing non-performing loans at 2% of outstanding loans this year.
The cancellation of its zero-rate mortgage campaign is also expected to help control property speculation and maintain asset quality.
Like its industry peers, SCB's new housing loans surged to
The bank's mortgages for the six-month period through June grew by
A significant surge in condominium ownership transfers in the second half could be the main driver for overall mortgage growth.
Some 63,00 condominium units are expected to be transferred in the second half.
For the first five months, 21,067 condo units were transferred, a 22% decline year-on-year.
Total residential transfers from January to May slumped 12% over the same period last year to 42,645 units.
In the second half, SCB will focus on condo mortgages, aiming at a 30% market share this year, up from 10% in the first half. "Amid the positive economic sentiment, competitive mortgage pricing will return," said Ms Pikun.
SCB targets expansion of its housing loan portfolio by 14.6% to
For the first half, its outstanding mortgages amounted to
SCB shares closed yesterday on the Stock Exchange of
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